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This past week started and ended in the red for precious metal Gold values. On Monday, economic posts dropping revealed positive data. Personal income in December rose more than economists had expected and the Chicago Purchasing Managers' report on January manufacturing rose unexpectedly as well. Major index composites went green during the afternoon but Gold price per ounce for February contract was red by .51% and settled at $1,333.80 an ounce. Gold found some footing on Tuesday and closed higher as did the majority of precious metals on the market tracking board this day. On Tuesday, Gold for April contract delivery was trending higher by .43% at $1,340.30. Silver for March delivery was in the green by 1.22% at a floor price of $28.51 per ounce. Platinum for April delivery was in the green by 1.78% and ended the session at $1,833 an ounce. Copper floor price for March contract was higher by 1.98% at $4.55 per pound. All values fell lower by Wednesday’s session close. Less interest was being paid to the safe haven asset Wednesday as positive posts kept index composites trending green and the dollar gaining strength. Gold contract for April delivery fell lower by .61% at $1,332.10 an ounce. Silver contract for March delivery fell lower by .79% at $28.29 an ounce. Platinum contract for April delivery fell lower by .24% at $1,828.60 an ounce. Copper contract for March delivery fell lower by .07% at $4.54 per pound. The up and down week continued for precious metal values on Thursday. Floor price for a majority of precious metals moved into the green by the end of session close this day. Gold for April delivery moved higher by 1.57% and finished the day at $1,353. Silver for March delivery moved higher by 1.55% and settled the day at $28.73 an ounce. Platinum contract for April delivery moved higher by .85% and finished off the session at $1,844.10 an ounce. Copper contract for March delivery finished the day higher by .01% with a floor price of $4.54 per pound. Mixed results summarized the last day of this past trading week as Gold fell lower, but Silver and Copper moved into the green. Gold contract for April delivery fell .30% and finished the day at $1,349 an ounce. Silver contract for March delivery ended the session 1.15% higher at $29.06 an ounce. Copper ended the session in the green by .77% at $4.58 per pound for March contract delivery. Gold set up lower as we move into a new trading week and if recovery interpretations are positive, gold demand will be less. Author: Camillo Zucari
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